On March 23, Shandong Polymer Biochemicals Co.Ltd(002476) ( Shandong Polymer Biochemicals Co.Ltd(002476) . SZ) announced that it had recently signed the equity transfer agreement on Dongying Lida Pharmaceutical Co., Ltd. with Shanghai leading pharmaceutical Co., Ltd. (hereinafter referred to as “leading pharmaceutical”) to transfer 30% of the equity of Dongying Lida Pharmaceutical Co., Ltd. (hereinafter referred to as “Lida pharmaceutical”) to leading pharmaceutical. As of December, 2020, the book value of the subject equity is RMB 13.9 million, which is determined by both parties through negotiation.
At the same time as the transfer of Lida pharmaceutical’s equity, it is disclosed that Chengdu baomo Mining Co., Ltd., a wholly-owned subsidiary of Shandong Polymer Biochemicals Co.Ltd(002476) signed an investment intention agreement, and plans to obtain no more than 20% equity of rijing mining and Hongbo mining respectively through capital increase. The transaction premise is that they legally own the mining license and mineral resource exploration license on gold mineral resources, There are no third-party rights affecting this transaction, and there are no ownership disputes or potential ownership disputes over relevant mining rights.
It is worth noting that, Shandong Polymer Biochemicals Co.Ltd(002476) 3 after the opening, the fluctuation was very small, and it suddenly rose to the trading limit before 2 p.m., and the above announcements were issued after the closing. Some investors questioned that the announcement information had been leaked. In this regard, the reporter called the company’s telephone, Shandong Polymer Biochemicals Co.Ltd(002476) relevant person in charge said that the company has not received any complaints from investors or letters from regulators, and there is no disclosure of announcement information.
transfer of 30% equity of Lida Pharmaceutical
On the afternoon of March 23, Shandong Polymer Biochemicals Co.Ltd(002476) announced that it would transfer the 30% equity of Lida pharmaceutical held by the company to pilot pharmaceutical at a transaction price of 13 million yuan. After the completion of this transaction, Shandong Polymer Biochemicals Co.Ltd(002476) will no longer hold the equity of Lida medicine, and pioneer medicine will hold 70% of the equity of Lida medicine.
For the reasons for the asset sale, Shandong Polymer Biochemicals Co.Ltd(002476) said that Lida pharmaceutical is mainly engaged in the R & D and industrial transformation of innovative drugs, the production and sales of pharmaceutical excipients and other businesses. Due to the industrial characteristics of high investment, high risk, long cycle and high income in the pharmaceutical R & D industry, the realization time and amount of the expected investment income of the long-term equity investment are still uncertain. At the same time, Shandong Polymer Biochemicals Co.Ltd(002476) will transfer the remaining 24 million yuan of capital contribution obligation to the transferee, which will help reduce the investment risk and further optimize the overall resource allocation of the company.
According to the announcement, Lida pharmaceutical was jointly invested and established by Shandong Polymer Biochemicals Co.Ltd(002476) and Shanghai pioneer Pharmaceutical Co., Ltd., Dongying Economic Development Zone State owned Assets Operation Co., Ltd. and Beijing Guoxin Airlines Investment Management Co., Ltd. in 2012, with a registered capital of 160 million yuan (paid in capital of 80 million yuan), of which Shandong Polymer Biochemicals Co.Ltd(002476) invested 48 million yuan (paid in registered capital of 24 million yuan), accounting for 30% of the registered capital.
At that time, Shandong Polymer Biochemicals Co.Ltd(002476) once said that the investment in Lida pharmaceutical was in line with the company’s strategic plan to develop the biomedical industry and was conducive to the adjustment of the company’s industrial structure and the cultivation of new profit growth points.
However, Lida pharmaceutical’s performance is not ideal. From 2015 to 2020, the net profit of Lida pharmaceutical was -107323 million yuan, – 7.3353 million yuan, – 5.8048 million yuan, 6.3505 million yuan, – 107603 million yuan and – 5.6182 million yuan respectively.
The reporter of the daily economic news noted that Shandong Polymer Biochemicals Co.Ltd(002476) had intended to transfer the equity of Lida pharmaceutical as early as 2017, and signed the equity transfer agreement with Shanghai Yiyao Biotechnology Co., Ltd., with the transaction price of 24 million yuan, but it was finally terminated because the transaction party failed to pay the equity transfer payment in accordance with the terms of the agreement.
subsidiary capital increase mining enterprise
Disclosed together with the announcement of transferring 30% equity of Lida pharmaceutical, Chengdu baomo, a wholly-owned subsidiary, plans to obtain no more than 20% equity of rijing mining and Hongbo mining through capital increase. The specific amount and proportion of capital increase have not been finalized.
In September 2021, Shandong Polymer Biochemicals Co.Ltd(002476) under the condition that the main business is facing great operating pressure, it plans to set up a wholly-owned subsidiary engaged in mining related business with its own funds to expand the company’s business channels, enhance the company’s development potential and improve the company’s profitability. Chengdu baomo is Shandong Polymer Biochemicals Co.Ltd(002476) an exploration and attempt for new fields, new industries and new businesses.
In this transaction, rijing mining was established in July 2013 with a registered capital of 85.52 million yuan. Hongbo mining was established in September 2014 with a registered capital of 2 million yuan. The legal person of the two companies is Zhou Shuangcai and the actual controller is Cai Jianjun. The investment intention agreement points out that this investment should be based on the premise that rijing mining and Hongbo mining have the mining license and mineral resources exploration license for gold mineral resources, and there are no third-party rights affecting this transaction, nor any ownership disputes or potential ownership disputes for the relevant mining rights.
As soon as the news came out, investors’ confidence was greatly boosted, and many people had a positive attitude towards the changes of Shandong Polymer Biochemicals Co.Ltd(002476) stock price in the next few days. However, it is worth noting that the stock price opened flat on Shandong Polymer Biochemicals Co.Ltd(002476) 3 March 23, with little fluctuation after the opening, and the trading volume did not exceed three digits for most of the time. It did not suddenly rise until 2 p.m. and rose the limit in a short time. Both the above two announcements were disclosed after the closing at 4:30 p.m. As of the closing on March 23, Shandong Polymer Biochemicals Co.Ltd(002476) reported 5.31 yuan / share, up 9.94% on the same day.
There was no news on the news, but the share price rose by the limit first. Some investors were puzzled by the sudden rise in the limit of Shandong Polymer Biochemicals Co.Ltd(002476) and some investors questioned that the inside information had been leaked.
In response to this problem, every time the reporter calls Shandong Polymer Biochemicals Co.Ltd(002476) telephone, the relevant staff told the reporter that the company has not received any complaints from investors or letters from regulators. If it receives any complaints or letters, it will start the self-examination procedure. “At present, we have only signed an investment intention agreement, and the specific investment plan needs further investigation and evaluation. In this planning process, the company has not disclosed information.”
